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Transactions - SEPTEMBER 14, 2021

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Ithaca Energy to increase oil and gas portfolio in Japan’s North Sea

by Kali Persall

Ithaca Energy has agreed to pay $1 billion for Marubeni's oil and gas assets in Japan’s North Sea, sources told Reuters.

Marubeni's main oil and gas asset in the region is its 41.03 percent stake in the Montrose Area, which includes eight different fields.

In August, Ithaca said it had refinanced a $1.225 billion reserve-based lending facility and placed a $625 million bond to help it pursue business growth opportunities.

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